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What Is A Canadian Bet

Canadian bets are a popular combination of bets that punters can use for horseracing. In theory, these bets can be used for any sport, but they are the most effective when betting on sports where the odds are relatively higher, and as horseracing can have odds as high as 3.0 or 4.0 on the favourite, is has the most potential to bring huge winnings.

One Canadian bet consists of a series of 26 individual bets on five different selections, which for horseracing would be the five winners across five separate races. The series of bets are 10 doubles, 10 trebles, 5 four-fold bets, and one five-fold.

To place a $1 Canadian bet, a punter would need to place a stake of $26 that will be divided 26 ways to create 26 $1 bets. To break down the Canadian bet and show what each bet comprises, we can assume that the five different selections are called A, B, C, D and E.

The 10 doubles bets are

A+B (1), A+C (2), A+D (3), A+E (4), B+C (5), B+D (6), B+E (7), C+D (8), C+E (9), D+E (10)

The 10 treble bets are

A+B+C (1), A+B+D (2), A+B+E (3), A+C+D (4), A+C+E (5), A+D+E (6), B+C+D (7), B+C+E (8), B+D+E (9), C+D+E (10)

The 5 four-folds are

A+B+C+D (1), A+B+C+E (2), A+B+D+E (3), A+C+D+E (4), B+C+D+E (5)

The 1 five-fold is

A+B+C+D+E

Now, to put these into an example the bets need to have odds

A to win at odds 3.0

B to win at odds 3.5

C to win at odds 3.2

D to win at odds 4.0

E to win at odds 3.6

If a stake of $26 is placed on the Canadian bet and all bets came through, the returns would be $1720.50. This is a massive win, but if one bet were to fail, it would instantly cancel out 15 of the 26 bets. If two bets failed then a whopping 22 out of 26 bets would be cancelled.

If bet E failed to win, the returns would be reduced to only $363.30, which is still a profit of $337.30

If bets E and D failed to win, the returns would be $64.90, which is still a profit of $38.90

If bets E, D and C failed to win, there would be a return of $10.50, which means that the bettor has lost $15.50

A lot depends on how many bets win in a Canadian bet, but generally if a punter can make at least four correct predictions with bets that have horseracing odds, they should be able to make a profit.

Why Horseracing?

As mentioned, there is a good reason why this bet is more effective with horseracing odds. Canadian bets need multiple selections to win for the bet to pay off, but they also need bets with long odds. If a punter was to put together a combination of tennis bets, where the odds on the favourite are far lower, the profit will not be as much and also if one bet fails, the bet instantly becomes a loss of money.

In tennis, the odds offered on the favourite may be 1.50 (this is quite generous), and if there were 5 selections all with odds 1.50, the maximum profit would be $89.16, from a stake of $26.

In this scenario, if one bet fails, the total returns would be $32.06, which is a profit of only 6.06.

If two bets fail, the bettor will receive $10.13, which is a loss of $15.88.

How to Use Canadian Bets

Canadian bets can bring extremely large winnings if all bets win. Whilst it requires a lot of luck to pick the winners of five separate races, if all bets are on the favourite then there is a good chance that most of the bets should come through. The probability of losing four or five bets would be quite low, though not impossible.

The bets do not necessarily need to be on horseracing, as there are many sports where the betting odds on the favourites are relatively long such as golf, motorsports, formula 1, and so on. Punters can place football or tennis bets into Canadian bets, but they need to pick specific bets that come at longer odds to make it worth their while.

Whatever sport is chosen, it is always useful to do precautionary research to help find out which bets have a better chance of winning. Whilst the odds are a good indicator for how likely the bets are to win, it is always useful for punters to read the statistics for themselves. This will help the punter determine how valuable the odds are in each bet and they will be able to pick the bets that they think have the best chance of winning with the most generous odds.

When it comes to Canadian bets, it is always important to remember that nothing is guaranteed, and anything can happen with bets that have long odds. That being said, they do have the potential of bringing some massive rewards, and there is some coverage for one or two losing bets, meaning that it is safer then placing a parlay.